Is There Really a Need?
Is there really a need for an entire blog dedicated to such a narrow subject?
I think there is; Interest only loans can actually get very confusing. What the general public calls an interest only mortgage loan can actually be based on a Fixed Rate Mortgage, a 3/1 ARM, a 5/1 ARM and indeed one the other less common forms of the fixed period ARMs, the 7/1 and the 10/1.
But it does not end there. The interest only portion of an Interest Only Mortgage Loan is limited in its term (period) after which the loan has a much less than 30 years to fully amortize, adjust payments dramatically upwards…
I will of course be writing about all kinds of mortgage products and credit issues as they are directly related to the subject but of courser the emphasis is going to be interest only mortgages
I think there is; Interest only loans can actually get very confusing. What the general public calls an interest only mortgage loan can actually be based on a Fixed Rate Mortgage, a 3/1 ARM, a 5/1 ARM and indeed one the other less common forms of the fixed period ARMs, the 7/1 and the 10/1.
But it does not end there. The interest only portion of an Interest Only Mortgage Loan is limited in its term (period) after which the loan has a much less than 30 years to fully amortize, adjust payments dramatically upwards…
I will of course be writing about all kinds of mortgage products and credit issues as they are directly related to the subject but of courser the emphasis is going to be interest only mortgages
This entry was posted
on Saturday, August 13, 2005 at 8:18 AM.
